An exclusive range of 50-year-old Glenlivet whiskies, titled the Twelve Elements, has been unveiled by online marketplace the Whiskey Exchange.
All 12 bottles will be released on the blockchain-enabled marketplace, each priced at £34,000 plus VAT.
Each of these unique conceptual bottles represents one of the 12 essential elements that underpin The Glenlivet: Air, Angel Share, Barley, Cooper, Copper, Distiller, Earth, Fire, Heritage, Time, Water and Wood.
The Glenlivet’s Twelve Elements emerged from two whisky casks maturing since 1974, carefully chosen to complement each other. One, a first-fill American oak barrel, imparts richness and structure, while the other, a refill American oak hogshead, moderates the barrel’s power and intensity. Together, they showcase The Glenlivet’s distinctive character.
As reported on the Whisky Exchange’s website, Kevin Balmforth, cask master at Chivas Brothers, which owns The Glenlivet, said: “This whisky exemplifies the art of balance, where nature and human elements combine to create amazing whisky.
“This truly exceptional liquid is a testament to the unique combination of the two hand-selected single malt casks. This required the patience and expertise of a long line of makers who presided over the casks for over half a century.
“This is one of our oldest official releases of The Glenlivet to date, a 50-year-old liquid that represents the continuous progression of our craftsmanship.”
Modern Day Exchange
Established by UK retailer The Whisky Exchange at the end of last year, The Whisky Exchange Cabinet offers a gateway to exclusive spirits directly procured from globally renowned distilleries.
As a blockchain-powered marketplace, purchasers of these rare spirits receive a digital ownership record, ensuring traceability and security in case they decide to resell their prized whisky sometime in the future.
These modern-day exchanges have the potential to revolutionise the whisky cask landscape, as exemplified by platforms like The Whisky Exchange Cabinet. By leveraging blockchain, investors can take advantage of unprecedented transparency and traceability in their whisky holdings.
The immutable nature of the blockchain will ensure that the transaction of each bottle is securely recorded, instilling confidence in the authenticity and value of the investment.
Benefits Of Blockchain
At the height of their popularity a couple of years ago, non-fungible tokens (NFTs) made an unexpected entrance into the world of whisky, with brands like Johnnie Walker and Buffalo Trace dropping exclusive releases via this new medium.
But while NFTs have lost much of their appeal, the blockchain technology that facilitated them has never been more relevant, with the crypto asset Bitcoin recently surging to an all-time high.
This is why platforms like The Whisky Exchange Cabinet, powered by blockchain, are still on the rise, continuing to make waves in the market.
But what are the benefits of blockchain and what’s the connection between whisky cask ownership and this revolutionary technology?
You see, the blockchain has gained so much support largely due to its ability to enhance transparency in the procurement of commodities. By leveraging its decentralised and immutable ledger, the blockchain records and securely stores every transaction that’s involved in the purchase process.
This comprehensive and transparent record allows all stakeholders, from producers to consumers, to trace and verify the entire supply chain journey of commodities. This provides safety and security for buyers, authenticating goods and transactions to mitigate fraud and reduce the chances of forgeries.
Glenlivet is a well-established whisky brand with a rich history. Known for its iconic single malts, Glenlivet has earned a reputation for its excellence and craftsmanship over the years.
Despite being such an esteemed brand, it’s clear Glenlivet isn’t afraid to embrace modern technology like blockchain. This move demonstrates how even the most classic brands can evolve with the times and by incorporating this innovative tech, Glenlivet continues to captivate enthusiasts, offering an intriguing blend of tradition and modernity.